Why is inequality worse for young people? | CNBC Explains
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- Опубликовано: 9 окт 2019
- Income inequality is affecting a younger generation of workers more than anyone else. So why are young people especially vulnerable? CNBC’s Elizabeth Schulze explains.
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#CNBC #Inequality #Millennials
>"...made young people feel sceptical of the government and institutions..."
>Shows Bernie supporters
????????????????
That was an example of a populist movement.
He is a politician.
@@rushopolis But why not to show Donald Trump?
They hate the establishment so it makes sense
Education system has to change. We need to take advantage of internet.
What if the job of high school was to teach us how to learn on our own.
Then there would not be a need for university education for most professions and anyone can learn on-the-job.
hear that everywhere in the world.... it start with the child.....
@@campkira similar thing can be done for young adults. To answer how: startups - human resource is also a resource that needs to be managed based on the current needs
why in the world do we need someone to teach us how to learn on our own?
@@benip4144 There are always more than one way to do something - the easier route and the tougher route and a lot of people get confused when faced with uncertainty which results in very few people achieving goals and even fewer do it efficiently. We need something like google maps for learning so that we can navigate our own route and are well informed of our choices. After all, every choice comes with a price tag.
Ankit Tripathi but what you said has nothing to do with "how to learn on our own".
It's more like an asymmetric information issue.
If you're talking about people, in general, aren't able to choose the best option when facing an issue with uncertainty because they are lack of mathematical/ statistical knowledge to calculate the probability of each options or the outcome.
Then, you should have said, statistic / data science should be a mandatory subject for high school students . (Personally, I support that)
Despite all of that, it still won't change anything, in my opinion.
From my view, education is the asset for income growth. Maybe government can propose tax reduction for the young employees in pursuing higher education such as master degree or professional certificate while working.
if it's rubbish master degree is just a waste of money. It's not just education or a degree, but how you as as student wants to utilize that degree. many students don't even know what to do with their degree.
Free Education is one way to reduce income inequality, this would enable the students to graduate debt-free and give them the opportunity to start off a career in a more solid financial position.
nope... Here in Ukraine we have free education but it doesn't help as we don't have enough jobs, because there's no incentives for business. High taxes, poor people (can't afford services and goods), corruption and stupidity of government prevents from business growth. As a result: no business - no job. 8 out of 10 young people are unemployed and have to look for a job abroad (as a toilet cleaner at least).
It’s a good video but was hard to keep up when she was jumping from millennials in the EU to the US. Just a bit hard to follow along.
The term millennial is used for those born during 1981-1996 "globally," it's not just restricted to the US or EU. It's also used when referring to the same economic age group in places like Hong Kong, Tokyo, Sydney, etc... so in essence she is referring to the same group of people but is using US and EU data samples to make the point in the video.
It`s the reality of not finding the job you want and landing with only the essential work type of jobs.
Great topic
Did you cover any young people who didnt go to college and started off with a job right away ? And tell us some statistics on them?
G Watsittoyaa stats on that are pretty bad actually. You should look into it... you will be surprised.
In Europe they have healthcare, whereas in US people don't. Unless you pay. And you're still under covered. So you have to be rich to afford a healthcare equivalent to the one in Europe. They also probably have better schools and education system than US does. Here, if a child is different than other, teachers tell parents to medicate them, usually with powerful drugs like amphetamines. So, the problem is different. Younger people in Europe have a better life.
She resembles Riley Reid so much lol
Lmao, I see you are a true man of culture.
More like Natalie Portman
True Riley Reid must be doing this as a side hustle nah but this woman does look like her. Good observation 😂👍🏿
There’s 7 billion humans.
So your bound to have pornstar lookalikes.
@@jasinbiggs7189 Yep, I know! That's why I just pointed it out.
I do believe that you have some points down but if I may add, the reason I beleive young people aren’t finding jobs is because the old people didn’t leave years ago to find something else to do which could make them passive income since they should have saved some money through the years to start something up, and make the top 1% today into the top 2% tommorow. But yet they plan to make someone else rich for the rest of their lives and because of that the top 1% is getting richer everyday.
The retirement age should be reduced to say 54 years in corporate , so this will force the officials to make youngsters more skilled to run their company and the retired people should be given enough pension to live happily.
@Shaswata Chatterjee
Well then India is making a huge mistake here.
@Shaswata ChatterjeeI think people work their whole lives to make a better lifestyle and we all should respect it . If people are retired early they can be with their families and do the things they have had missed in the past . And 65 years of retirement is ridiculous as people are not so work efficient at that age :-)
I am more furious because the reporter does not seem so serious!
Elizabeth.. your are my favoutite❤
Need to prevent people from buying up all the suburban homes close to the city, which prices young people out of the market.
I think a good policy would be to enforce rent to own policies for landlords. No one should have to spend their entire life paying rent when they could have bought the place with the same money.
Saying 'thanks' used to mean thanks for something, but it got used so much for unimportant things that people had to say 'thanks so much' or 'thanks a million', now those phrases are so over-used that she even says 'thanks so much' for something unimportant like watching a video.
If no one watches their videos, I guess they wont earn anything.
This is very true and have seen a lot. I've experienced too
Too many gatekeepers and workers who cannot afford to retire.
Well,it happened in China and Hong Kong as well
This is my favorite host
Poor should unite and establish cooperatives.
dont marry, share rooms, sublet, get a's, use spare time to outsource for income. claim insurance, dodge taxes cook at home. Use public transport if possible.
Training and good paying job can play good role for us. ❤️
Send all old aged people in the USA to Puerto Rico to make that island's economy much better than today's and place incentives for brand new elderly daily care centers to be opened in puerto rico.
Consider UBI. Andrew Yang.
UBI please
Feeding Disabled and old age people who were not in a position to earn is not only the responsibility of the Govt, it's the collective responsibility of all citizens of the country, it's not the factor for income inequalities ,the reasons are Education system prevailed, Unemployment (willful unemployment,unwilling unemployment,underemployment,) and the Regional Disparities. There is a wide gap between "what we learn in the classroom what the industry asks to do " this has to be reduced for eg doctors, nurses, vocational trainers found their jobs easily ,whereas in the Engineering stream only 40 percent were succeeded, the reason is not equipped with the required skills, only few colleges were in a position to equip their students with the required skills with the collection of high fees, those who were not afford they cannot get better education which forces them to accept underemployment with low wages which again act as driving force of their children get in to the poverty trap, low paid jobs , distance migration were the reasons for willful unemployment, finding no jobs even though willing to work leads to unemployment. The outcome is income inequalities ,rich become richer, poor become poorer ,The high quality education system with no cost or affordable cost ,and the linkage with the tri sectors (Agricultural, industrial, service sector demands . ) will help the young people to find suitable jobs and to get minimum living standards. . The remarkable significance of "Regional Balanced development " which will helps the people belongs to the particular region to found their livelihood and avoid unnecessary migration, scattered of families , effect on the culture of the country, Allocation of resources equally to all the region's considering it's natural resources ,creation of jobs, controlling mechanism on the prices of the food grains, perishable goods, Raw materials required for housing,will reduce the income inequalities.
May be they have to stay with parent waiting for earning enough job experiences.
Yeah, with the current job market situation, It's sensible to stay in home and share expenses with the familly
I offended that people are sleeping on Agism
In Turkey , prime minister, ministers and head of Turkish assembly pension wages are all net 3700 USD per month , member of parliament of Turkish Assembly pension wage is monthly net 2900 USD per month, The Head of Turkey pension wage is net 4900 USD per month. Turkey has been emerging economy for 200 years time.
Ye its pretty bad here in NZ. Old people need to die out for the younger skilled professionals to get their seats.
Noble Magnum unfortunately, even them, the baby boomers, dont want to retire
It's okay old will perish soon.
It's really stupid how the government expects young people to have kids with the wage most of us make. I'm 27 and I dont see myself having kids anytime soon. I make a decent living to sustain myself, but not a family. I pay double tax, because the company I work for has it's headquarters in another city...... and not the city where I work. What????... I know I'm not the only one, but that doesn't make sense......
CNBC please could you make video on Stocks and its market
Like how things work in Stock Market!!
Monetary value, from a human resource perspective, is not typically found in "young people".
There is no uniform answer to addressing inequality(what might work for one country might not work for the other). In countries where there is high inequality despite the presence superlative education, improving the education system does not make sense. Many alternatives can be looked when trying to combat inequality. For example, changing our youths t mindset of 'wanting a job' to 'creating jobs'. The current youth is super creative and we should use that to tackle these chronic economic problems. 2 in 3 people reading this have an idea but they scared to pursue it. There is no generation that is clever than ours, let us use that to our advantage. Tschus.
wealth tax is stupid, raise marginal rates if anything lmao
So we can sit here and complain or we can work harder than our peers and get ahead. And the reason why I say this is because a lot of people in the upper class will go down the economic ladder because they're idiots. So work your way up and get ahead.
I don’t understand how educating yourself to enhance your skills to an ever changing world can lead you to life long debt that sometimes after you die they’d make your kids try to pay off your student loan debt. #Abolishcollegestudentloandebt
Free college means that the government will need to tax middle income families, and yourself to pay for your student loans.
The government will take a large portion of those taxes to pay its employees, their healthcare, paid-sick leave, maternity-leave, social security, retirement, or pension. Which leaves a little bit to pay for a huge college tuition. It won't work because colleges can't sustain on bargain prices of the government.
Basically, any service you get from the government is at a bargain price. You, and your parents will get stuck with the bill through income taxes.
Current income taxes avg 15% at $35,000 per yr wage for young workers. Now increase income taxes to 25%
Taxation... Companies that have more full-time employment should be taxed less - so it will stimulate employment with pension system.
Millennials are right now the largest demographic in the workforce globally and there aren’t much high paying, good quality positions due to stinginess of big corporations especially ones that don’t pay taxes through loopholes, inflation is real that’s why the cost of living is soaring while especially in AmeriKKKA wages in most states are still stagnant.... doesn’t make any damn sense. It’s like they want people to struggle day to day and continue to live paycheck to paycheck forever 💵 ♾
1. Learn sales using free resources on internet.
2. Buy something and Flip
3. Read Unscripted by MJ DeMarco.
In no short time you will be giving out jobs not asking for it.
Something like what? An apartment, a car..?
the world are in the mess ....
I only hire part time women and they are paid by minimum tip wage so if they want to make more money that's up to the customers tips
Hi Elizabeth Schulze, you have beautiful smile and nice leather jacket.
Shutdown facebook, insta, youtube and all social media... We end up spending more time on internet everyday instead of career focus activity.
Equality isn't synonim of prosperity
Elizabeth i love you
I see a video full of complainers and no action takers
THE BIAS AGAINST MILLENIALSSSSSS AAAAA
Cancel student debt! Why are American Colleges Loans 19% interest rates on a 100k loan? A house is 3%.
A house, and more importantly the property it sits on, is collateral. A millennial is an unsecured loan with no value.
No, community colleges are cheap those people are just stupid by going to an expensive school for the name
Make video on gender ratio diffrance
Middle east
Asia
Europe
Africa
what with girl at 4:08
Im not a socialist but I never understood how people can make milions of dollars. Like, how can someone be that valuable to sociaty that they should ear that much? However, I do believe a healthy difference in income is important because then those who are more valuable to society do have more reason to work hard for our benefit,
I'm a communist, and I say that you're so stupidly naive... It's centrist moderate sheeps like you that have allowed this system to prosper until now. At least capitalist conservatives and libertarians know what they wish for and have fought with great success to establish the current system. You reap what you sow and get only what you deserve!
You are a god damn heroine
Really?
Per Hovden your profile pic moves as i scroll up and down 😲
That's the best thing that can happen to young people. This encourages entrepreneurship.
We need a new monetary system. Too many people taking advantage of the current one.
US came up with this skewed GDP economic model and now in long term it is clear that this model fails its citizens. US will collapse with 3x debt than the quantity of money flowing, if it doesn't write it off. Improving Citizen's life standard should have been the goal that includes several aspects apart from economics. No doubt wealth is concentrated in few 10,000 hands while billions suffer. It is akin to dark ages when the King of the country and his few royals amassed all the money while citizens were left to raid and famines, how is current GDP model different? Hope emerging and poor economies do not adopt this foolish model and focus on life overall and not on bottling up every free resource up to be sold to only those who have money.
THE WHOLE EU IS A NIGHTMARE FOR MILLENNIALS.HAVING ONE PAGE OF RESUMES OF WORK EXPERIENCES AND A DIPLOMA DOESN'T GUARANTEE YOU FOR A JOB THERE BELIEVE ME.UNTIL NOW,THE REQUIREMENTS FOR A SOMEBODY TO GET A JOB IS CONFUSING ME FOR SURE BECAUSE IF GOOD SCORES, DIPLOMA,AND A SHITLOAD OF WORK EXPERIENCES DOESN'T NEEDED BY YOUR EMPLOYER AND YOU STILL FOUND DIFFICULTIES OF FINDING ONE,I DON'T KNOW WHAT ELSE
That's because young people want's the same pay as someone in that company who have been there for like 10 years.
The less experience, the less pay you make.
Nope, it's about executives taking millions of dollars in bonuses while forcing people to work for peanuts, it's about having to shell out 300$ for a pen of insulin, it's about selling your house & your car to pay for hospital fees, it's about Amazon making billions every year & using public infrastructure & still getting away with not a dollar in taxes
Trevor Phillips that’s so true. Especially minimum wage workers who want the same pay as low payed corporate workers. They work at different levels...
I suppose we change the entire system: redefine financial wealth; a new system that produces creators instead of followers; create means for exchanging true value, as opposed to the current means which is driven by perception; develop means of expression that allow everyone to generate wealth just by living their lives, exploring and being free from ideologies
This is exactly what caused hk’s unrest but propagandas love to pain it as it’s a democratic movement. We saw jobless kids vandalizing public properties. How’s that democracy? Certainly its freedom coz they get to do whatever they want. Only cause is social order which is pretty much gone
It is widely known that there are provocateurs and undercover cops that vandalized public properties. Oldest trick in the books. To sway public opinion and make the protesters image look bad.
greentealatte are you insane? How many undercover cops account for the total rioters vandalizing properties? Are you saying 100% of the criminals are cops and stories were made? Not to mention, there isn’t evidence to support your claim. Not even cia had a such report. Sure, it’s widely know, but only widely know to the criminals looking for excuses
Liger Dave I didn’t say 100% of all rioters are provocateurs. You made that statement yourself. Yes there is evidence...many videos showing undercover cops pretending to be protesters. Look up reddit r/HongKong.
greentealatte hahah which line of mine accused them all to be rioters? I separate the protesters from rioters and I’m supporting the cops to crack down on the rioters who vandalizing public properties taking away others freedoms. As for you my friend, your lines aren’t consistent. First, you blamed the undercover cops to destroy public properties. Now you are saying they are undercover cops but no sign that you accuse them for vandalizing. Can you make your statement clear and consistent? If you are accusing cops to go undercover, I guess you are totally insane. Ask yourself which country doesn’t have undercover cops? Are you saying undercover cops are illegal? So far, I haven’t seen the hk cops violating any law. In fact, they have been super constraining themselves. I would give you a chance to take an instance and make your argument against it
That’s nothing Africa has higher unemployment so I don’t get why it’s made to look like a crisis
Africans are too poor to go to school or have higher education degree.They score the lowest in world for SAT and ACT. It's no surprise this is a reflection by their corrupt government that prohibits basic human rights. China was once poor like Africa, but their country dug itself out through hard work and perseverance. If Africans had the same mentality they would be in better economic health.
No more regulations please
Let Elizabeth do all the reports... other Ladies on the channel are good... but not up to her mark.
I wonder if people at collage cant pay back there debt. They have their diploma or degrees confiscated
Student loans lead to poverty.
So don’t take em
Can you suggest something on Indian youths ....
There is no inequality, you,CNBC,create a vision of it
Exempt under 23 people from minimum wage laws. This will make it easier for them to get that all important first job and begin their climb up the income ladder.
Right now they are blocked from entering the workforce because nobody is going pay 10-15 dollars an hour for workers with zero experience.
Exactly
@@shawnparadox9299 So, why should they make a lot when they have 0 experience? The more experience they get, then the more money they make.
@@saulgoodman2018 Ok
Ok
So what if they aren't able to get experience for their career choice?
@@shawnparadox9299 Well they have to work to get experience. Just like everyone else.
@@saulgoodman2018 still not getting the point but Ok
Keep thinking like that
Come on, a bad economy has nothing to do with income inequality, if anything, inequality is an incentive to work harder so that with more responsibility when you work your *ss off, you're gonna become rich & totally deserved. You really think graduates would be even hired in the first place for a monstrous wage or that the job would even exist? Lol no, they got to get work experience first, then they can climb up the ladder, that's how it works & has been working successfully, stop addressing problems that don't exist - if anything, that's an argument for a practically-minded university education (skills you can actually apply in the real world) as opposed to forgetting everything after the exam
ive earned millions through trading assets and creating my own startups. the plight of the masses are of no concern to me.
she didn't explain it at all, did she?
Raise the minimum wage and tax the rich more progressively. Close tax loop holes for corporations. Amazons billions should be taxed at a much higher percentage than my $13 an hour.
Equality of opportunity is a good goal, but CNBC has gone toward the Left which wants equality of outcome (socialism)
Half of young India is jobless 😒
That's mostly because of overpopulation and not all young people are jobless but mostly Engineers.
@@n3gi_ yeah. I'm Aeronautical Engineer n jobless😴
@@renoll Shouldn't skilled workers actually NOT be jobless?
The answer is Negative Income Tax by Milton Friedman
But isn't Donald Trump a kind of populist? When he promises to give jobs to coal workers in West Virginia and other states... isn't he being a populist? Why to show Bernie Sanders and not Donald Trump as an exemple of populism?
When the older generation mess with the young people's future
Violent pink
it's ez to find a job: join the military. Become a supply clerk, cook, soldier, I.T. technician, mechanic, finance specialist...get trained up. Do your 4 years and leave with it on your resume. EZ as that.
Furthermore, interested in cybersecurity? You just got to do darn well on the military tests (enlisted or officer) otherwise you end up doing what the poor scorers get to do, become a regular soldier.
joker~~~~~
Kick out robos out of the economy
Pay blue collar workers liveable wages
Well, that is beaut of capitalism, winner take all. The American sell those "free of market"concept is make those 1%in wall Street benefit from the globalisation and technology advances.
Now, I believe China with unique system could be a solution for it.
I just lost all respect for CNBC. I expect this trash from CNN or MSNBC, but I expected more from CNBC.
you mean what they showed was incorrect?
If we implement communism, you could Solve all these problems !
-some progressive Utopien
so that everyone dies of famine?
Because young people are starting at the bottom and have to work their way up! I was poor when I was young and it took many years to earn and save and buy a house and have enough to retire.
our education is way better so your logic doesnt make any sense
What they should have asked was: "Why is inequality worse in Democratic states?" Hey... wake up...
Would be nice to get job training. To bring myself into better standing. Thanks 1% for screwing me from 18 till now.
I worked like a dog for ten years I deserve more!
Just call Thanos and Wipe out All Old people , Millennials don't need them
Some young people get useless degrees which doesn't pay in pursuit of 'passion', and at the same time other young people become successful in scalable professions such as software and entrepreneurship. As a result, folks who do well attain more financial success in life by comparison.
But they're not happy... So to recap some can't have happiness because of lack of material/financial ressources and the others don't find happiness in doing a job they hate while accumulating ressources for nothing. Conclusion: Capitalism doesn't work and it's time to build a new system that free man from work thanks to technology and by redistributing wealth equally. What we need is a form of techno-communism, not your bullshit two-cents moral! Everyone should be free to pursue any of their passions AND be financially and materially well-off to be happy, and anyone deserves happiness.
Cz young ppl r spoiled lil bratz nd ik I'm only 23.
Life itself has never been equal so there is no such thing as inequality. It's called capitalism.
look at her. she's reporting a sad story about youth and then, she is laughing. that is why I hate journalism. further, they call it passion.
The solution to income inequality is to work hard, study hard, choose good majors to study not stupid ones. Be a doctor, a lawyer, an engineer. If you can’t, it’s your problem
Ehh, no. Those jobs require you to take on lots of debt.
Secondly plenty of people go to schools with inadequate education
Lawyers will be killed by technology soon. Doctors as well. Engineer is the only option.
America First 😂
@@kaushik3182 no ai has unlimited potential